Shanxi Jiangyang Engineering Blasting Co., Ltd. announced that it will receive CNY 65,347,188.44 in an equity round of funding on October 16, 2023. The transaction will include participation from returning investor Anhui Jiangnan Chemical Industry Co.,Ltd. to acquire 67.74% stake of registered capital. Out of the total gross proceeds, CNY 42,000,000 will go to registered capital of the company.

The transaction has been approved by the 23rd Meeting of the Anhui Jiangnan Chemical Industry Co.,Ltd.'s 6th Directorate and does not need the Shareholders? approval.